The Congress has once again alleged that the ‘PM’s favourite business group’ was favoured a ‘haircut’ in loan settlement with public sector banks.

The Congress leader Jairam Ramesh on Sept 4, cited data released by the All India Bank Employees Association (AIBEA) and accused that public sector banks were supposed to settle claims of approximately ₹62,000 crore from 10 financially distressed companies.

However, after these companies were acquired by the Adani Group, the settlement was made for just ₹16,000 crore, according to Ramesh.

Ramesh, targeting Adani Group without naming it, shared a photo of the details of AIBEA, showing that the 10 companies were given a ‘haircut’ ranging from 96% to 42% after being bought by the Adani Group.

He stated, “AIBEA has revealed through publicly available data, how public sector banks were supposed to settle claims of around ₹62,000 crore from 10 financially distressed companies, but after the Adani Group acquired them, the settlement was reached for just ₹16,000 crore.”

Ramesh remarked, “In the colourful language of economics, this represents a 74% ‘haircut’ taken by the banks.”

The Congress has consistently targeted the Adani Group following the allegations by Hindenburg Research, but the Adani Group has dismissed the claims as unfounded.

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